The company reported standalone net profit of Rs 38.87 crore for the quarter ended September 30, 2019 as compared to Rs 459.58 crore in the same period last year, registering a year-on-year decline of 91.54 per cent. Net revenue of the company declined substantially by 47.52 per cent at Rs 3,867.99 crore in July-September quarter of this fiscal as against Rs 7,369.71 crore in the corresponding period last year.
During July-September quarter, operating expenses dropped by 45.59 per cent to Rs 3,700.92 crore from Rs 6,802.05 crore in year ago period. Other Income grew by 61.63 per cent at Rs 45.50 crore versus (Sep'18 Rs 28.15 crore).
Operating Profit slipped by 71.64 per cent to Rs 228.58 crore as against Rs 805.93 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 45.98 per cent in September quarter. Interest grew by 73.40 per cent y-o-y to Rs 30.12 crore, while Taxation decreased by 109.83 per cent at Rs -19.76 crore (Sep'18 Rs 201.00 crore).